W-8BEN

Transcript of the video:

Gentle music plays throughout.
A blue bar scrolls up and the title appears.

Onscreen text:

Open Your Account:
Complete Your W-8BEN Form

Female narrator: After you've opened your Schwab account, you will automatically be directed to complete your W-8BEN form. W-8BEN is a U.S. Internal Revenue Service form used by non-U.S. citizens to certify their foreign status, and if applicable, claim a reduced tax rate or an exemption from tax withholding. It must be completed every three years in order to avoid tax withholdings.

Blue bar sweeps the onscreen text off and replaces it with new onscreen text:
W-8BEN is a U.S. Internal Revenue Service form used by non-U.S. citizens to certify their foreign status, and if applicable, claim a reduced tax rate or an exemption from tax withholding. It must be completed every three years in order to avoid tax withholdings.

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If you don't have a W8 on file, Schwab will withhold 24% of sales proceeds and up to 35% of dividend and interest payments on your equity account.

Narrator: If you don't have a W-8 on file, Schwab will withhold 24% of sales proceeds and up to 35% of dividend and interest payments on your equity account.

White background sweeps off to reveal, on the right side of the screen, the image of a laptop computer. The laptop screen displays a Schwab webpage showing a reminder to complete the W-8BEN form and a blue link to the form.

Onscreen text:
Complete W-8BEN Form.
Begin the W-8BEN form.

Narrator: Begin the form by clicking on the link "Update your W-8BEN form now."

The image on the laptop screen changes to show a portion of the W-8 BEN form; throughout, each new screen highlights the part of the form being discussed. On the left part of the screen, a blue bar sweeps the onscreen text off and replaces it with new onscreen text:
Complete W-8BEN Form.
Fill in basic details.

Narrator: Start by filling in basic details, like your name, country of birth, and date of birth.

The laptop screen changes to display another part of the W-8BEN form. On the left part of the screen, a blue bar sweeps the onscreen text off and replaces it with new onscreen text:
Complete W-8BEN Form.
Enter your Tax Identification Number.

Narrator: In the next section, choose your Foreign Tax Identification Country from the drop-down menu and enter your Tax Identification Number.

The laptop screen changes to show a different part of the W-8, and a blue bar sweeps the onscreen text off and replaces it with new onscreen text:
Complete W-8BEN Form.
Fill in your permanent address.

Narrator: Then, fill in your permanent address—not the address of your employer.

The laptop screen now shows a different part of the W-8, and a blue bar sweeps the onscreen text off and replaces it with new onscreen text:
Complete W-8BEN Form.
Enter contact details. Then agree to the tax terms.

Narrator: Next, enter the contact details of the account holder, presumably yourself.

A different part of the W-8 appears on the laptop screen, and, on the left, the blue bar sweeps the onscreen text off and replaces it with new onscreen text:
Complete W-8BEN Form.
Record confirmation number.

Narrator: A screen will appear with a confirmation code. Be sure to write this code down, because you'll need to enter it later. Then choose and answer a recovery question.

A different part of the W-8 appears on the laptop screen, and, on the left, the blue bar sweeps to reveal new onscreen text:
Complete W-8BEN Form.
Select the W-8BEN form.

Narrator: Next, select the W-8BEN form to continue.

A different part of the W-8 appears on the laptop screen, and the blue bar sweeps to reveal new onscreen text:
Complete W-8BEN Form.
Confirm citizenship status.

A bubble superimposed on the laptop screen contains this copy:
If you answer "yes" to the last question, you will be directed to take a U.S. Substantial Presence test.

Narrator: Enter the information related to your citizenship status.

A different part of the W-8 appears, and the blue bar sweeps to reveal new onscreen text:
Complete W-8BEN Form.
Confirm the correct information.

Narrator: Then, confirm that the Tax ID that prepopulates is correct.

A different part of the W-8 appears, and the blue bar sweeps to reveal new onscreen text:
Complete W-8BEN Form.
Enter your information.

Narrator: In the next section, select the appropriate response in regards to treaty benefits.

A different part of the W-8 appears, and the blue bar sweeps to reveal new onscreen text:
Complete W-8BEN Form.
Select an answer.

Narrator: For "Special Rates and Conditions," you should only select "Yes" if you are claiming specific treaty benefits.

A different part of the W-8 appears, and the blue bar sweeps to reveal new onscreen text:
Complete W-8BEN Form.
Upload any documents.

Narrator: Then, upload any documents. If you don't have any, click "Confirm & Continue."

A different part of the W-8 appears, and the blue bar sweeps to reveal new onscreen text:
Complete W-8BEN Form.
Review and confirm.

Narrator: Next, review the information and check all the boxes.

A different part of the W-8 appears, and the blue bar sweeps to reveal new onscreen text:
Complete W-8BEN Form.
Electronically sign and submit.

Narrator: Sign your name, enter the confirmation code we had you write down earlier, and confirm acceptance.

A different part of the W-8 appears, and the blue bar sweeps to reveal new onscreen text:
Complete W-8BEN Form.
Agree and submit.

Narrator: Finally, read through the declaration on the screen that pops up. Agree, and submit.

A different part of the W-8 appears, and the blue bar sweeps to reveal new onscreen text:
Complete W-8BEN Form.
Confirm completion.

A bubble superimposed on the laptop screen contains this copy:
You'll be notified via the Equity Awards Center when you are required to recertify your W-8BEN.

Narrator: That's it! You're done with the W-8BEN form.

The white background sweeps all text and images off and a blue bar sweeps back to reveal new onscreen text:
Still have questions?
To talk to a Schwab Stock Plan Specialist, call 800-654-2593.

Narrator: Still have questions? Give us a call.

Onscreen text changes to:
Still have questions?
International Participants,
call +1-602-355-3408.

The blue bar sweeps the onscreen text off and replaces it with new onscreen text:
Still have questions?
Or from your Schwab account, navigate to Equity Awards and click on Knowledge Center.

Narrator: Or from your Schwab account, navigate to "Equity Awards" and click on "Knowledge Center."

Brand music plays.
Blue bar sweeps the onscreen text off and replaces it with new onscreen text:
Charles Schwab
Own your tomorrow®

For illustrative purposes only. Individual situations will vary.

This information provided here is for general informational purposes only, and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, you should consult with a qualified tax advisor, CPA, Financial Planner, or Investment Manager.

Stock Plan Services provides equity compensation plan services and other financial services to corporations and executives through Charles Schwab & Co., Inc. ("Schwab"). Schwab, a registered broker-dealer, offers brokerage and custody services to its customers.